Yahoo chief apologises after CV padding
Yahoo's chief executive Scott Thompson has apologised to employees in a memo, after it was discovered last week that his CV included a false claim he had a computer science degree.
Scott Thompson: chief executive, Yahoo
Controversy erupted last week after activist investor Daniel Loeb of hedge fund Third Point accused Thompson of adding a bogus bachelors computer science degree to his CV.
In the memo, seen by Reuters, Thompson said: "I want you to know how deeply I regret how this issue has affected the company and all of you.
"We have all been working very hard to move the company forward and this has had the opposite effect. For that, I take full responsibility, and I want to apologize to you."
Thompson said he would "respect" the board's plans to conduct a thorough and independent review and hoped it would be "concluded promptly".
According to reports, Third Point, which owns 5.8% of Yahoo shares has issued a legal demand to review how much the Yahoo board knew about Thomspon's qualifications before it hired him as chief executive in January.
He assured Yahoo employees that he remains focused on taking the steps that he believes are needed to revive Yahoo's revenue growth and boost its long-sagging stock, even with his own job imperilled.
The episode is a major blow for Thompson, with many commentators speculating that this could cost him his job.
His short stint at the company has been eventful, first with Yahoo's move to sue Facebook over alleged patent infringement, shortly followed by a company wide restructure which will cut 2,000 jobs.
Follow Sarah Shearman on Twitter @Shearmans
This article was first published on mediaweek.co.uk
Latest jobs Jobs web feed
- Copywriter fishtank 25k to 40k per year GBP, Marlow, Buckinghamshire
- PR Account Director fishtank 40k to 55k per year GBP, Surrey
- Head of Marketing fishtank 45k to 60k per year GBP, United Kingdom
- Digital Search & Acquisitions Officer Topshop Up to £30,000 per annum + benefits, London
- planner > SHOPPER EVANGELIST > brilliant role for those SUITS looking to move across into PLANNING collectivo £30-40k + bens, London
- Senior Account Executive fishtank Up to 24,000, United Kingdom
Big Questions Live - Social Media, User Generated Content and the Power of Customer Insight (Webcast) External website
Brand Republic’s first ever online TV show, Big Questions Live wil...
Integrated digital marketing offers huge opportunities to engage, servic...
The PR industry’s lack of success at the Cannes Lions festival 201...
Confused by hashtags? Tweetchats? Tweet walls? You’re not alone.Wi...
It’s fair to say we are truly in the age of content marketing, the...
As a nation, the UK is media and technology obsessed with over half of t...